Author: NBTC
Crypto’s hellish 2022 was awash in washouts: Terra-Luna crashed, FTX rugged and crypto lenders bombed. Yet the disasters failed to sink many of the teams perhaps most vulnerable to mayhem: early-stage startups. Over 80% of the crypto startups that announced seed rounds in 2022 continue to build today, according to a new report from Lattice VC. The finding may add some retrospective hope to what was otherwise crypto’s darkest year yet. Venture capital companies deployed over $5 billion into 1,200 teams that unveiled their seed rounds during the tumultuous months of 2022 – 2.5 times more capital than in 2021.…
Emily Johnson turned a $500 investment in Shiba Inu into $50,000 in 2021. Early SHIB investments yielded astronomical returns, transforming modest sums into life-changing wealth. The 35-year-old homemaker Emily Johnson never would have predicted how a little investment in a cryptocurrency influenced by memes would have such a profound impact on her financial destiny. Living in low circumstances with her family, Emily was constantly seeking for opportunities to improve her future. Social media had spread word of the crypto frenzy, but she had never thought she was financially wise enough to invest. The Spark of Curiosity Early in 2021, Emily…
Silk Road founder Ross Ulbricht has begun his 12th year in prison, sharing his resolve to make the most of his time. Former President Donald Trump pledged once again on Wednesday to “save” Ulbricht, a promise that reopens old wounds and sparks debates over crypto and justice. On Wednesday, former President Donald Trump declared, “I WILL SAVE ROSS ULBRICHT!” on Truth Social, reviving interest in Ulbricht’s story and the platform that defined Bitcoin’s early use. Ulbricht’s case, tied to the rise and fall of Silk Road—a marketplace that thrust Bitcoin into the mainstream—has always polarized opinions. Trump’s pledge brings back…
Indian crypto exchange WazirX will form a Committee of Creditors (COC) by October 9. It will treat all users with crypto balances at the time of the $230 million hack as contingent unsecured creditors. While the COC will provide feedback and monitor the restructuring process, the company is not obligated to integrate its recommendations. Cryptopolitan calculates that only 13% of creditors hold 92% of the total claims, making only about 500K high-value claims. WazirX will form a COC Indian crypto exchange WazirX will form a COC, days after co-founder Nischal Shetty said “We need YOU to be a part of…
A report from Firstpost America confirms that the Kingdom of Bhutan has approximately one-third of its gross domestic product in Bitcoin. The leading media outlet lauded Bhutan’s silent rise to relevance in the cryptocurrency scene after harnessing its abundant hydropower resources to mine the most valuable crypto asset. Bhutan is currently the fourth-largest government holder of Bitcoin, only behind the US, China, and the UK. Notably, Bhutan’s GDP for 2023 was $2.9 billion, up 4.5% from the previous year. Of this, 28.6% ($831 million) were proceeds from its crypto mining activities, as the nation reaped bountifully from its diversification into…
The struggles for Ethereum (ETH) have continued as more obstacles have started to emerge. Moreover, we have seen a pattern of notable selling from whales. This trend seems to continue with each passing day, putting more hurdles on the road for a potential Ethereum price rally. The selling pressure is increasing, and the price is continuing its sideways movement. Earlier today, two major ETH transfers were detected by Whale Alert, a major crypto tracking service. These transactions have caused worry among investors and the broader crypto community. In the first transfer, the whale sent 13,883 ETH from their private wallet…
Fenbushi Capital, Asia’s first blockchain-focused venture capital investment firm, has incurred losses after selling several cryptocurrencies. On Oct. 1, Lookonchain shared on-chain details showing that Fenbushi Capital had recently faced losses of up to 90% in some coins. The platform has now offloaded more tokens at a further loss. Fenbushi Capital dumps multiple coins After seeing several tokens decline from their all-time highs, the VC firm sold $5.14 million worth of digital assets at a loss. These assets included 219 Ethereum (ETH) worth over $576,000; 136,094 of EigenLayer (EIGEN) worth $514,000 and over 146,537 Uniswap (UNI) valued at more than…
Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to offer cryptocurrency services. The law positions Uruguay at the forefront of Latin American countries that have already included crypto in their regulatory frameworks. Uruguay Enacts Cryptocurrency Law After Over Two Years of Discussion President Luis Lacalle Pou recently signed the 20.345 Law, a bill regulating bitcoin and cryptocurrency usage in the country. The law puts Uruguay in a privileged spot, offering clarity for companies that want to provide crypto-related services.…
Mercado Bitcoin, a leading Brazilian crypto exchange, will be the first customer of Ripple’s product in Brazil. use Ripple’s platform to improve its internal treasury operations between Brazil and Portugal. Ripple introduced its crypto on-demand liquidity (ODL) service in Brazil in August 2022 in partnership with Travelex Bank. Ripple, a provider of digital asset infrastructure, has partnered with leading Brazilian crypto exchange Mercado Bitcoin to offer businesses its managed end-to-end payments solution. Mercado Bitcoin use Ripple’s service to improve its internal treasury operations between Brazil and Portugal, Ripple said in a statement. The aim is to offer its corporate and…
Over the years of its existence, Bitcoin (BTC) has established a macro-rising trend that has given more investors confidence to predict its future. The flagship coin has in the past respected the four-year cycle, demarcated by the halving events. Having gained the confidence of retail trades and institutional investors, Bitcoin is now on the cusp of being adopted by all nation-states as a reserve currency. Moreover, Bitcoin price has registered higher returns than gold over time despite the latter leading to a bullish breakout. In the long haul, experts believe Bitcoin will be used to settle global national debts, which…